Azenta(US:AZTA)2024-11-12 21:20Revenue Performance - FY'24 revenue was $656 million, down 1% year over year, with organic revenue declining 2%[7] - Q4'24 revenue was $170 million, a decrease of 1% year over year, with organic revenue down 2%[4] - Sample Management Solutions revenue for FY'24 was $319 million, up 5% year over year, with organic growth of 4%[7] - Multiomics revenue for FY'24 was $255 million, up 3% year over year, with organic growth also at 3%[7] - B Medical Systems revenue for FY'24 was $83 million, down 27% year over year, with organic revenue also down 27%[7] - Revenue for the total year ended September 30, 2024, was $656 million, a slight decrease of 1% compared to $665 million in 2023[41] Profitability Metrics - Adjusted EBITDA for FY'24 was $49 million, with an Adjusted EBITDA margin of 7.5%, an improvement of about 300 basis points year over year[10] - FY'25 organic revenue growth is expected to be between 3% to 5% year over year, with Adjusted EBITDA margin expansion of approximately 300 basis points[1] - Non-GAAP diluted EPS for FY'24 was $0.41, compared to $0.31 in FY'23, reflecting a 32% increase[10] - Gross profit for the three months ended September 30, 2024, was $69,413,000, compared to $68,034,000 for the same period in 2023, reflecting a slight increase[27] - GAAP gross profit for the quarter ended September 30, 2024, was $69,413,000, representing a gross margin of 40.8%, up from 39.5% in the same quarter of 2023[35] - Non-GAAP adjusted gross profit for the quarter ended September 30, 2024, was $76,455,000, with a margin of 45.0%, compared to $73,730,000 and 42.8% in the same quarter of 2023[35] Losses and Charges - Operating loss for the three months ended September 30, 2024, was $(12,292,000), an improvement from $(16,628,000) in the same period last year[27] - Net loss for the three months ended September 30, 2024, was $(4,984,000), compared to a net income of $3,375,000 for the same period in 2023[27] - The company reported a basic net loss per share of $(0.10) for the three months ended September 30, 2024, compared to a profit of $0.05 in the same period last year[27] - Restructuring charges amounted to $11,808 thousand for the year ended September 30, 2024, compared to $4,577 thousand in 2023[32] - The company reported a significant impairment of goodwill and intangible assets amounting to $115,975 thousand for the year ended September 30, 2024[40] Cash and Assets - Cash and cash equivalents decreased to $310,929,000 as of September 30, 2024, down from $678,910,000 a year earlier[28] - Total assets decreased to $2,100,041,000 from $2,885,720,000 year-over-year[29] - Total stockholders' equity decreased to $1,768,967,000 from $2,534,500,000 compared to the previous year[29] Management Changes - Lawrence Y. Lin has been appointed as Chief Financial Officer, succeeding Herman Cueto[18] Strategic Initiatives - The company is pursuing a sale of B Medical Systems to simplify its portfolio and enhance revenue growth and profitability[16] - The company expects continued focus on transformation and productivity improvements to enhance long-term operational efficiency[37] - Transformation costs for the quarter ended September 30, 2024, were $3,971 thousand, reflecting ongoing strategic projects aimed at long-term benefits[40] Other Financial Metrics - Non-GAAP adjusted net income from continuing operations was $21,804 thousand for the year ended September 30, 2024, up from $20,599 thousand in 2023[32] - Non-GAAP adjusted net income excluding stock-based compensation was $34,246 thousand for the year ended September 30, 2024, compared to $28,671 thousand in 2023[32] - Earnings before interest, taxes, depreciation, and amortization (EBITDA) for continuing operations was $9,109 thousand for the quarter ended September 30, 2024[33] - Non-GAAP adjusted operating income for September 30, 2024, was $9,860 thousand, compared to $3,404 thousand in the previous year[38]